"A man is not finished when he is defeated. He is finished when he quits."

Thursday, January 21, 2010

January 21


Wow, the markets were lively today! Too bad I was out pretty much all day on Day-Job. I did get a chance to sit in on the markets for the last hour or so and saw many practice trades I might have taken. However, I was content to mark my charts and watch closely at the movement of FAS and TNA. For a person who knows how to trade, today was a banner day. I'm still looking forward someday to being practiced enough to get in with real money on days like today. I did take a practice trade long in FAS off the deep dip candle that happened at 3:05 pm. At the next candle, near its bottom when I felt the momo had subsided, I went long then sold a bit early but for a winner. Then, I closed out a TNA short from yesterday afternoon which I had held overnight (something I would not do with real money), also for a gain. I took one more trade at the close, a long in TNA. The trade did not work out and I sold it for a loser about 15 seconds before EOD. I was originally looking for a rally off support around 43.75 but the EOD dump was too strong. Support was finally found by TNA but it was at the LOD.

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